Recently contacted my conveyancing solicitor in Wylam who completed the legal work 18 months ago asking for a conveyancing quote based on an identical type of home move (a leasehold residence and a freehold property) of almost identical values with a loan from National Westminster Bank. It looks as though am now being quoted double. Am I right to be tempted to shop around for an alternative property lawyer?
The estimate does seem a tad steep. If you are happy to invest time scrutinising prices you may be able to trim some of the cost by perhaps £125. That being said, providing that you were content with the conveyancing the firm offered you mightlive to regret choosing an an unknown conveyancer. Don't forget to ensure that the conveyancer can also act for National Westminster Bank. Do utilise our search tool to get a quote a Wylam conveyancing firm on the National Westminster Bank conveyancing panel, which can often include conveyancing solicitors in Wylam.
Our solicitor has discovered a a legal deficiency with the lease for the apartment we are purchasing in Wylam. The seller’s lawyers have offered defective title insurance as a solution. We are content with insurance and will cover the costs. Our conveyancer has advised that he must check that the lender is happy with this solution. Are we the client or is the bank?
Notwithstanding that you have a mortgage offer from the lender does not mean to say that the property will meet their provisions for the purposes of a mortgage. Your lawyer has to ensure that the lease has to comply with the UK Finance Lenders’ Handbook specifications. You and the mortgage company are the client. The appropriate lender conditions must be adhered to.
My property lawyer in Wylam is not listed on the Barclays Direct Solicitor Panel. Is it possible for me to use my family solicitor notwithstanding that they are excluded from the Barclays Direct panel of approved conveyancing solicitors?
Your options are as follows:
- Complete the purchase with your existing Wylam solicitors but Barclays Direct will need to retain a lawyer on their panel. This will result in additional total conveyancing fees and cause delays.
- Choose a new lawyer to to deal with the purchase, not forgetting to check they are Barclays Direct approved.
- Persuade your Barclays Direct based solicitor to try to join the Barclays Direct panel
I have a semi-detached Edwardian house in Wylam. Conveyancing lawyer represented me and Bank of Scotland. I did a free Land Registry search last week and I saw a couple of entries: one for freehold, another for leasehold under the exact same address. I thought I was buying a freehold how can I check?
You should read the Freehold register you have again and check the Charges Register as there may be mention of a lease. The best way to be sure that you are also the registered proprietor of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Wylam and other areas of the country and poses no real issues for owners other than when they mortgage they have to account for both freehold and leasehold interests when dealing with lenders. You can also check the position with the conveyancing solicitor who carried out the work.
I am purchasing a ground floor apartment in Wylam. Conveyancing solicitor is waiting for, from the owner, building insurance schedule. This afternoon I was informed that the seller must send the insurance schedule for the flat above as well. Why would my conveyancer need to see the insurance for the flat above? Is it strictly required? We have been waiting for the previous 2 weeks…
It is not impossible in leasehold conveyancing in Wylam to discover Conveyancing in Wylam in a minority of cases reveals that the lease requires the tenant's to insure their individual flats rather than the freeholder insuring the complete premises - which is clearly preferable. Do double check with your lawyer but it would appear that your solicitor is attempting to verify that the whole building is insured. Insuring your residence is no help when it comes to rebuilding after a fire if the 1st floor cannot be reconstructed for lack of insurance cover.